This could be the big one "Washington starts up natural gas infrastructure with new Senate legislation"
Washington starts up natural gas infrastructure with new Senate legislation
By CNGNow.com
Thursday, July 09, 2009
New natural gas legislation is making the rounds in our nation’s capitol. Senate Majority Leader Harry Reid, D-Nev., Sens. Robert Menendez, D-N.J., and Orrin G. Hatch, R-Utah, held a news conference to introduce the “New Alternative Transportation to Give Americans Solutions (NAT GAS) Act.”
Driven by America’s need to reduce its dependence on foreign oil and reduce urban pollution, the bill’s objective is to accelerate the production and use of more natural gas-fueled vehicles and stimulate the economy. Features include: increased tax credits and incentives for American consumers, auto manufacturers and refueling stations.
Basic provisions of the bill include:
• Extending NGV tax credits to “bi-fuel” natural gas vehicles (50% of the vehicle’s incremental cost), as well as dedicated NGVs (80% of the vehicle’s incremental cost)
• Increasing the consumer tax credit to $12,500 for purchasing light-duty NGVs
• Increasing the refueling property tax credit to $100,000 per station
• Allowing state and local government entities to issue tax-exempt bonds to finance NGV projects
• Granting a new tax credit to auto manufacturers for producing dedicated and bi-fuel NGVs domestically
• Providing research and development grants for light- and heavy-duty NGVs and engine development
• Requiring a percentage of new vehicles in service by the federal government fleet to be capable of running on dedicated alternative fuels
Take Action
Click here to send a message to your legislators and urge them to support this act.
Buck
By CNGNow.com
Thursday, July 09, 2009
New natural gas legislation is making the rounds in our nation’s capitol. Senate Majority Leader Harry Reid, D-Nev., Sens. Robert Menendez, D-N.J., and Orrin G. Hatch, R-Utah, held a news conference to introduce the “New Alternative Transportation to Give Americans Solutions (NAT GAS) Act.”
Driven by America’s need to reduce its dependence on foreign oil and reduce urban pollution, the bill’s objective is to accelerate the production and use of more natural gas-fueled vehicles and stimulate the economy. Features include: increased tax credits and incentives for American consumers, auto manufacturers and refueling stations.
Basic provisions of the bill include:
• Extending NGV tax credits to “bi-fuel” natural gas vehicles (50% of the vehicle’s incremental cost), as well as dedicated NGVs (80% of the vehicle’s incremental cost)
• Increasing the consumer tax credit to $12,500 for purchasing light-duty NGVs
• Increasing the refueling property tax credit to $100,000 per station
• Allowing state and local government entities to issue tax-exempt bonds to finance NGV projects
• Granting a new tax credit to auto manufacturers for producing dedicated and bi-fuel NGVs domestically
• Providing research and development grants for light- and heavy-duty NGVs and engine development
• Requiring a percentage of new vehicles in service by the federal government fleet to be capable of running on dedicated alternative fuels
Take Action
Click here to send a message to your legislators and urge them to support this act.
Buck
Views: 48
Replies to This Discussion
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Permalink Reply by Parkdota on
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Wonderful....I hope it catches major support. I think it's a good sign that both parties have representatives sponsoring the bill.
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Permalink Reply by North LA on -
The fact that this has Rs and Ds involved is huge. With NG prices so low and supply so high there will never be a better time.
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Permalink Reply by red rider on
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could you provide a copy/link of this act? so we can read it? if it's too good to be true, then it probably is.
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Permalink Reply by cocodrie man on
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Buck,
Thank you for posting this. For what it is worth, Bob Menendez has been a great friend of New Orleans and south Louisiana in our recovery. He once described himself to me as the "third senator from Louisiana." He is very effective and well informed. This may well gain traction.
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